Posted by picassomcp on December 04, 2015 at 08:22:52 from (50.107.34.32):
I have 2500 bushel of soybeans stored at my local elevator. I brought them in there the 1st of Oct, was asked if I wanted to sell them for that days price of $8.11 or if I wanted to store them. They offered 90 days storage for $0.12 per bushel. This was there minimum storage fee. Me, in my infinite wisdom figured that the price will be at a low now due to it being harvest time and lots of beans coming in. I decided to store all my beans. I have been watching the bean price ever since and they are pretty much lower than they were at harvest time. Todays price if sold to them would be $7.96 minus the 12 cents making it $7.84 per bushel. Bummer.
Now, this is my first year of marketing any grain, I have just done hay to this point. I don't exactly need to sell my beans now, but it would be nice to free up some cash to reinvest in other things, including next years inputs. I would like to hit the market at a high point, no one knows when that will be, but hitting the harvest time price is really my goal at this point. Beans have been up the last few days, but they got a ways to go yet to get to the harvest time price plus the 12 cents I paid to store them.
Now with the above items in mind, I have a few questions for you experienced grain marketers.
Does my thought of harvest time prices being low hold any water? Certainly it doesn't this year, but in a typical year do prices tend to slump around harvest? When is a usual high point in the market? Is there such a thing?
Also, to determine todays price, my elevator takes ADM's current price, minus the basis, then minus $.55 Today, that is just over $1 per bushel under ADM's price. I could have my beans removed from the local elevator and hauled to any terminal I like, but the elevator will still charge me the $0.12 storage fee plus an additional 0.10 per bushel load out fee. I haven't priced trucking yet, but the neighbors tell me it is about $0.25 per bushel to get the beans hauled to the Twin Cities where ADM and other buyers are at. Is this something I should look into more? Is my elevator treating me fairly here?
I'm just looking for any grain marketing tips or ideas from you seasoned fellers while I get going in this game. I'm having fun, just need to continue learning!
Upload one or more videos to your post. Photo filesizes should be less than 300K and Videos, less than 2MB. Formats allowed are gif, jpg, png, ogg, mp4, mov, and avi. Be sure to use filenames without spaces or special characters, and filetypes of 3 digits lower case.
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
... [Read Article]
Latest Ad:
2022 John Deere 5045E, 4wd, front end loader and 3rd function with grapple. 120 hrs, 55k new, must sell
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
